UCB to Acquire Zogenix in Deal Valued at Up to $1.9 Billion
January 19 2022 - 01:59AM
Dow Jones News
By Cristina Roca
UCB SA has agreed to buy biopharmaceutical company Zogenix Inc.
in a deal worth up to about $1.9 billion.
The two companies said Wednesday that UCB will launch a tender
offer on all outstanding Zogenix shares for $26 a share in cash at
closing.
Shares in Zogenix, which commercializes and develops therapies
for rare diseases, closed at $15.64 on Tuesday.
The deal is expected to be accretive to UCB's earnings from next
year.
The companies also agreed to a contingent value right for a
potential cash payment of $2 a share upon European Union approval
of fintepla as an orphan medicine for treatment of Lennox-Gastaut
syndrome by the end of 2023.
Both companies' boards have unanimously approved the
transaction. Closing is expected in the second quarter of the year,
and remains subject to a majority of the total number of Zogenix's
outstanding shares being tendered, as well as antitrust
clearances.
Write to Cristina Roca at cristina.roca@wsj.com
(END) Dow Jones Newswires
January 19, 2022 01:44 ET (06:44 GMT)
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